Deal Corner February 01, 2010
IL&FS Trust Company Limited, IIRF India Realty X Limited and Moltana Holdings Limited
IL&FS Trust Company Limited, IIRF India Realty X Limited and Moltana Holdings Limited, (collectively, "Investors"), have entered into an agreement whereby the Investors have agreed to invest up to INR 1650 million in Orbit Highcity Private Limited, a wholly owned subsidiary company of Orbit Corporation Limited, Mumbai ("Orbit"). The said investment would be used to develop integrated township project ("Transaction"). Orbit is a listed company primarily involved in the development of real estate projects in the Mumbai Metropolitan Region.
We, at Nishith Desai Associates, acted as legal counsel to Orbit for this Transaction.